Tarun S. Patel is a second generation hotelier and entrepreneur specializing in Hospitality Management and Development, Deal Structure, Finance and Accounting. He’s Principal of Pacific Hospitality Company, and Founder and CFO of Pracrea Inc, a Silicon Valley based startup offering software-as-a-service solutions used by commercial real estate brokers and owners to manage the sale of their listings and properties. Their solution, TheHotelInventory.com, provides a virtual meeting place for hotel buyers and sellers that helps hotel sellers and brokers market their properties, and hotel investors find their next investment.
Tarun earned a BS, Finance and Economics from San Diego State University.
Mentioned in this Episode
It’s well known extended-stay-hotel and short-term-rental sectors have done better than their transient hotel counterparts during the coronavirus pandemic. Even before the crisis hit, residential-type accommodations were seeing a growth in interest from travelers as well as investors. The COVID-19 outbreak is proving mixed developments of hotel rooms, leased apartments and owned condominiums offer a unique value proposition during and after the pandemic. This report is part of Long Live Lodging’s ongoing coverage of the coronavirus crisis and its impact on the hotel industry.
The coronavirus pandemic is forcing the lodging industry to rethink health and wellness. Designers such as Blanche Garcia of B. Garcia Designs see this as an opportunity for hotels to revise their messaging beyond clean and safe by introducing wellness products and programs they can market and attract guests who want to feel good during their stay and return home feeling better than when they left. Those who promote healthy buildings as well as safe travel are exploring how implementing elements of wellness can be a cure for hotel businesses struggling to survive the COVID-19 pandemic and the subsequent economic downturn. This report is part of Long Live Lodging’s ongoing coverage of the coronavirus crisis and its impact on the hotel industry.